Swiggy Instamart is set to appoint Ankit Jain, a SVP at Flipkart, as its new SVP.
Jain will replace Sairam Krishnamurthy, who had been leading Instamart as SVP and COO since August 2024.
He will work closely with Instamart CEO Amitesh Jha, another Flipkart veteran who joined Swiggy the same month.
This leadership move comes as part of a broader executive shake-up at Flipkart, which is reportedly aiming to reduce its monthly cash burn from $40 million to $20 million in preparation for a potential IPO.
Swiggy has also onboarded other senior leaders from Flipkart recently, including Shalabh Shrivastava as SVP of Driver Org and Hari Kumar G. as SVP and Chief Business Officer for Instamart.
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Swiggy Instamart is ramping up its quick commerce play aggressively. Between January and March 2025, it added 316 new dark stores, taking its total network to 1,021.
In Q4 FY25, the business unit reported a 115% revenue jump to ₹689 crore, up from ₹320 crore in Q4 FY24. Meanwhile, Swiggy’s overall revenue stood at ₹4,410 crore in the quarter, with a reported loss of ₹1,081 crore.
